GE profit falls, meets estimates, sells loan unit
Summary from United States, from articles in English
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The consumer and industrial businesses have 50,000 of GE's 300,000 employees, sales of $13.3 billion and a profit of slightly more than $1 billion last year. (article 2)
HARTFORD, CONN. General Electric Co. reverted to form with no big surprises in its latest earnings report, and investors shocked by an unexpected profit shortfall three months ago showed their appreciation. (article 3)
The conglomerate whose interests range from making loans, TV shows and light bulbs to building industrial machinery reported a 6 percent decline in its second-quarter earnings but still matched analyst's expectations. (article 4)
GE's share price edged up 2 cents to close at $27.66 even as the Dow Jones industrials lost more than 100 points and briefly slid below 11,000 for the first time in two years. (article 4)
The U.S. conglomerate, whose operations range from making jet engines to running NBC Universal media, left its full-year profit forecast unchanged at flat to up 5 percent. (article 5)
The strongest growth, as expected, came at GE's infrastructure unit, where earnings were up 24 percent. (article 5)
General Electric Co. announced Thursday that it wanted to spin off its iconic lighting and appliance businesses, the latest aggressive move by one of the world's largest companies to reshape its portfolio to focus on faster-growth businesses. (article 1)
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Event tracking:
Story keywords
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GE, earnings, billion, Profit, quarter |
Source articles
- GE pursues spinoff of consumer, industrial unit (L.A. Times, 07/11/2008, 378 words)
- GE targets spinoff of consumer, industrial unit (Washington Post, 07/12/2008, 411 words)
- GE profit falls, meets estimates, sells loan unit (L.A. Times, 07/12/2008, 488 words)
- GE profit falls, meets estimates, sells loan unit (Washington Post, 07/12/2008, 773 words)
- GE profit meets expectations; outlook steady (Washington Post, 07/11/2008, 340 words)
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